Accelerant (NYSE:ARX) Stock Price Up 9.2% – Should You Buy?

Accelerant Holdings (NYSE:ARX)’s stock price rose 9.2% on Wednesday . The stock traded as high as $12.48 and last traded at $12.7990. 181,508 shares changed hands during trading, a decline of 87% from the average session volume of 1,386,211 shares. The stock had previously closed at $11.72.

Analyst Ratings Changes

Several research analysts have weighed in on ARX shares. Piper Sandler boosted their price objective on Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Wells Fargo & Company lifted their price objective on shares of Accelerant from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. BMO Capital Markets upped their price target on Accelerant from $16.50 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. Morgan Stanley increased their price objective on Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, TD Cowen lowered their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.90.

Accelerant Stock Performance

The firm has a market cap of $2.78 billion and a P/E ratio of -1.83. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $14.32 and its 200-day simple moving average is $13.71.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $273.20 million during the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm’s revenue for the quarter was up 53.5% compared to the same quarter last year. As a group, sell-side analysts expect that Accelerant Holdings will post 0.73 earnings per share for the current year.

Insider Activity

In related news, CEO Jeffrey L. Radke sold 80,000 shares of Accelerant stock in a transaction on Monday, June 29th. The shares were sold at an average price of $12.87, for a total value of $1,029,600.00. Following the sale, the chief executive officer owned 28,101,939 shares in the company, valued at $361,671,954.93. The trade was a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 76,464 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $13.11, for a total transaction of $1,002,443.04. Following the transaction, the insider directly owned 7,050,125 shares in the company, valued at approximately $92,427,138.75. The trade was a 1.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 415,500 shares of company stock valued at $5,431,384. Company insiders own 66.59% of the company’s stock.

Institutional Investors Weigh In On Accelerant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Militia Capital Management LLC bought a new stake in shares of Accelerant during the 1st quarter valued at $2,004,000. Royal Bank of Canada lifted its position in Accelerant by 50.3% during the 1st quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after acquiring an additional 2,585 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Accelerant during the first quarter worth about $137,000. SummitTX Capital L.P. boosted its stake in Accelerant by 11.0% during the first quarter. SummitTX Capital L.P. now owns 62,999 shares of the technology company’s stock worth $842,000 after acquiring an additional 6,219 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Accelerant in the first quarter worth about $239,000.

Accelerant Company Profile

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.